Cooperative living is simply joint ownership in a facility. Members become owners when they buy a share in the property and are then entitled to occupy a specific unit and cast one vote in all cooperative matters.

Each month members pay an amount that covers their share of the operating expenses of their cooperative corporation. There are no major financial surprises.

Decision Making: You’re an Important Part

Cooperatives are unique in that you have a say in all matters relating to the facility and its activities. Each home has one member vote and all are invited and encouraged to share expertise with our Board of Directors.

Benefits at a Glance:

  • Personal income tax deduction
  • Lower turnover rates
  • Lower real estate tax assessments
  • Reduced maintenance costs
  • Residential participation and control
  • Combine the advantages of ownership today with the freedom, community and convenience of cooperative living at Realife.

Cooperative Costs

There are two primary costs involved in a cooperative:

  1. The Share Price is a one time payment that purchases a share in the co-op. Your share entitles you to occupy your home within the co-op. It accumulates equity and is generally more affordable than buying real estate and still has the tax advantages.
  2. Members also pay a Monthly Carrying Charge which includes: the mortgage payment, real estate taxes, operating expenses, lender required reserves, interior & exterior maintenance, sewer, water, trash pick-up, recycling, cable TV, and heat. Members help set these budgets and the entire community operates as a not-for-profit.

In short, the monthly fee covers everything except your electricity, phone/internet services and underground heated parking.